Westpac Banking Corp Reduces Position in Palantir Technologies Inc. $PLTR

Westpac Banking Corp cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,304 shares of the company’s stock after selling 10,359 shares during the quarter. Westpac Banking Corp’s holdings in Palantir Technologies were worth $5,031,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bare Financial Services Inc grew its holdings in shares of Palantir Technologies by 54.5% during the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $29,000. Morton Brown Family Wealth LLC grew its holdings in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after buying an additional 125 shares during the last quarter. United Financial Planning Group LLC purchased a new stake in shares of Palantir Technologies during the third quarter valued at $32,000. Finally, Clayton Financial Group LLC grew its holdings in shares of Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s strong Q1 results, including 84.7% revenue growth and an EPS beat, continue to support the long-term bull case, and several recent articles point to improving AI infrastructure momentum and expanding commercial adoption. Palantir’s AI Infrastructure Momentum: Is PLTR Stock Still a Buy?
• Positive Sentiment: Commercial momentum also looks solid, with Cavanagh extending its Foundry partnership through 2035 and becoming a channel partner, suggesting Palantir can keep broadening beyond government contracts. Why Palantir Technologies (PLTR) Is Up 17.4% After Cavanagh Extends Foundry And Becomes Channel Partner
• Neutral Sentiment: Some coverage remains constructive on the broader AI and defense-tech trade, but much of it is focused on whether the stock can keep rallying after a sharp run-up rather than on a new fundamental catalyst. Palantir’s Drone Tailwind Puts Its Defense AI Story Back in Focus for Investors
• Negative Sentiment: Insider selling is the main near-term drag: Reuters and other reports highlighted director share sales totaling tens of millions of dollars, which has intensified concerns that management may see the stock as fully valued. Palantir’s Stock Price Drops Further as Insiders Dump More Shares
• Negative Sentiment: Valuation worries are also weighing on PLTR, with some analysts arguing the company’s premium multiple already prices in very aggressive growth assumptions. Palantir’s $369 Billion Valuation Requires Unprecedented Federal Market Share
• Negative Sentiment: UK lawmakers also criticized Palantir’s role in public-sector systems, calling it an “unacceptable point of weakness,” which adds political and contract-risk headlines around its government business. UK lawmakers call Palantir’s role public sector an unacceptable weakness

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. DZ Bank assumed coverage on shares of Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price target on the stock. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Wednesday, May 6th. Freedom Capital raised shares of Palantir Technologies from a “strong sell” rating to a “strong-buy” rating in a report on Friday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Palantir Technologies in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $200.00 target price on shares of Palantir Technologies in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.76.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the transaction, the insider owned 642,786 shares in the company, valued at approximately $87,444,607.44. This represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 925,789 shares of company stock valued at $126,007,032. Insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Down 5.3%

Palantir Technologies stock opened at $152.17 on Wednesday. The firm has a market cap of $364.80 billion, a price-to-earnings ratio of 170.98, a price-to-earnings-growth ratio of 2.55 and a beta of 1.53. Palantir Technologies Inc. has a 52 week low of $118.93 and a 52 week high of $207.52. The business’s 50-day moving average price is $141.80 and its 200 day moving average price is $155.65.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.